Cement News tagged under: corporate
Cementir boosts pretax profit11 November 2014, Published under Cement NewsCementir's turnover for the first nine months of 2014 declined by 3.7 per cent to EUR714.7m as the Turkish and Egyptian currencies declined against the euro and Italian volumes fell further. EBITDA, however, did increase by 10 per cent to EUR127.7m and the trading profit advanced by 31.7 per cent to EUR66.8m. After a net financial charge that was reduced by 72.4 per cent to EUR3.1m, the pre-tax profit jumped by 60.7 per cent to EUR63.7m compared with EUR39.7m a year ago. Net debt a... |
Lafarge to acquire complete control of Unicem11 November 2014, Published under Cement NewsLafarge Nigerian Cement Holdings said on Monday it had entered into an agreement with Flour Mills of Nigeria to purchase a 30 per cent stake in United Cement Company of Nigeria Ltd (Unicem). The deal will give Lafarge's Nigerian Cement Holdings complete control of the country's third-largest cement manufacturer, Reuters reported. "Pursuant to the agreement, a first 15 per cent tranche would be acquired in the first quarter of 2015, while the second 15 per cent tranche is scheduled to be ac... |
Kuwait Portland Cement 9M14 net profit up 32% YoY11 November 2014, Published under Cement NewsKuwait Portland Cement’s net profit increased by 32 per cent in the first nine months of the year to KWD8.64m (US$29.7m) from KWD6.57m a year earlier, the cement trader said in a bourse statement yesterday. Earnings per share (EPS) increased to 95.1 fils from 72.3 fils. Without disclosing exact figures, the company attributed the increase to higher sales, coupled with a rise in revenue from investments. Kuwait Portland Cement said total assets rose to KWD85.1m at end-September 2014 ... |
Italcementi reduces nine-month loss10 November 2014, Published under Cement NewsItalcementi's turnover declined by 3.1 per cent to €3,217.5m in the first nine months the year and the running EBITDA eased by 0.6 per cent to €469.3m. Very substantially lower re-organisation costs and a 12.1 per cent reduction in depreciation and impairment charges resulted in the trading profit staging a 48.1 per cent recovery to €160.9m. The net interest charge rose by 15.7 per cent to €100.0m and a larger financial impairment charge, the pre-tax profit jumped from €10m to €40.3m. Af... |
Buzzi Unicem's US profits grow10 November 2014, Published under Cement NewsBuzzi Unicem's turnover for the first nine months edged ahead by 0.2 per cent to EUR1898.7m while EBITDA improved by 10.8 per cent to EUR302.5m. The trading profit was ahead by 15.1 per cent to EUR136.1m and net financial charges declined by 38 per cent to EUR50.7m. The contribution from associates increased by 22.6 per cent to EUR36.1m, and the pre-tax profit advanced by 77.3 per cent to EUR121.8m. The tax charge still rose by 63.1 per cent while the minorities charge declined by 36.4 pe... |
UltraTech acquires 51% interest in Omani mining firm10 November 2014, Published under Cement NewsUltraTech Cement Middle East Investments, a subsidiary of UltraTech Cement, has acquired a 51 per cent interest in Omani mining company Awam Minerals LLC. Awam Minerals possess a licence for mining substantial gypsum deposits in the south of Oman, which will serve as a captive mine for UltraTech Cement's network of plants. UltraTech Cement. India’s largest cement producer, also operates two grinding units and a clinker plant in the UAE, and a grinding unit in Bahrain, through its Middle Ea... |
Dangote Cement to reduce capex next year07 November 2014, Published under Cement NewsDangote Cement expects to slow its capital spending next year to around US$700m, as it completes most of its African expansion projects, its chief executive told Reuters on Wednesday. Edwin Devakumar said Africa's biggest cement operation budgeted to spend around US$1.4bn this year, as it ramps up its cement works from Senegal to Zambia. "This year we may end up with a capex of close to US$1.4bn though we expect it to come down next year to around US$700m," Mr Devakumar told the news agenc... |
Gulf Cement Company nine-month profit surges07 November 2014, Published under Cement NewsUAE-based Gulf Cement Company registered 62 per cent growth in its net profit to AED73.9m (US$ 20.1m) for the first nine months of 2014, the company said in a statement to Abu Dhabi Securities Exchange. The growth was attributed to a 178 per cent increase in operating income and a 181 per cent rise in gross profit which was enough to offset the sharp drop in investment income. Gross profit soared 181 per cent to AED80.4m, while investment income narrowed 39 per cent to AED32.3m. Earnings ... |
HeidelbergCement shows strong growth in Great Britain06 November 2014, Published under Cement NewsHeidelbergCement's turnover improved by 2.7 per cent to €10,127m in the first nine months of the 2014 and the EBITDA was 5.7 per cent ahead at €1794m. At the trading level, the profit increased by 10.9 per cent to €1241m and after a net interest charge 12.1 per cent higher at €463m, an associates contribution 14 per cent lower at €17m and a lower net exceptional items contribution, the pre-tax profit declined by 15.3 per cent to €803m, giving a the net attributable profit 33.5 per cent down ... |
PPC increases stake in Habesha, Ethiopia06 November 2014, Published under Cement NewsPPC has increased its shareholding in Ethiopian producer Habesha Cement Share Company to 51 per cent by acquiring the Industrial Development Corporation's (IDC) 20 per cent stake in the company for US$13m. In July 2012, PPC jointly acquired a 47 per cent stake in the Habesha Cement for US$21m, with PPC investing US$12m cash to obtain a 27 per cent stake in Habesha Cement and the IDC simultaneously investing US$9m for a 20 per cent equity stake. The balance of the shareholding is held by mo... |